Europe Anti-Money Laundering Solution Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component (Software and Services), Deployment Type (On-premises and Cloud), Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management), and Industry (Healthcare, BFSI, Retail, IT and Telecom, Government, and Others)

Code: TIPRE00018129 | Pages: 166 | Industry: Technology, Media and Telecommunications | Date: Jan 2021
Covid

Market Introduction

An anti-money laundering (AML) solution is deployed to meet the financial institutions' legal requirements for preventing and reporting the activities of money laundering. Increasing online transactions and rising concerns regarding fraudulent transactions have steered the adoption of anti-money laundering solutions across Europe. Further, supportive government regulations supplement the growth of the Europe anti-money laundering solution market to a significant extent. The adoption of anti-money laundering solutions across Europe region has increased over the years due to growing concerns for fraudulent activities and rising online transactions across various verticals. Further, growth in technological advancements, emergence of crypto-currencies, and rise in the adoption of cloud-based solutions supplement the demand for anti-money laundering solutions across Europe. A significant number of players are present in the Europe anti-money laundering solution market. Rise in partnerships and increase in product launches are driving the Europe anti-money laundering solution market. Also, other factors such as growing focus on limiting risks related to digital payment methods is also expected to drive the Europe anti-money laundering solution market.

Furthermore, in case of COVID-19, Europe is highly affected specially the UK and Russia. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens. European countries represent a major market for anti-money laundering solutions due to the adoption of cloud technologies in the BFSI sector. The region has also witnessed a growth in the number of fintech. Reporting from Financial Action Task Force (FATF) members indicates that online criminals have attempted to profit from the global pandemic through rising fraudulent activities. MONEYVAL, a permanent monitoring body of the Council of Europe, has identified challenges and policy responses to prevent money laundering. In Europe, the COVID-19 pandemic is impacting government and private sectors’ abilities to execute AML obligations.


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Market Overview and Dynamics

The Europe anti-money laundering solution market is expected to grow from US$ 435.15 million in 2019 to US$ 1,713.02 million by 2027; it is estimated to grow at a CAGR of 16.3 % from 2020 to 2027. Rising focus of FinTech on implementing automated anti-money laundering systems is expected to accelerate the Europe anti-money laundering solution market. The growth in technological advancements across Europe is increasing the number of cyber criminals. However, FinTech firms have the potential to help banks around the Europe to stay competitive in the market. Whether tracking digital currency, machine learning, or connecting data, more robust systems combined with advances in technology has opened up possibilities in the fight against money laundering. With increasing consumer adoption and subsequent transaction volumes in competitive FinTech firms in 2019, many firms shifted to automated anti-money laundering practices. The automated anti-money laundering system provides a negligible amount of false positives compared to those generated by traditional data and technology. This reduces the adverse effects of false positives and higher operational costs. In 2020, due to the growing connection between FinTech and AML solutions, the Association of Certified Anti-Money Laundering Specialists across Europe has announced the launch of a new certification program for FinTech firms who are seeking to meet regulatory standards in a growing market. The association has developed the Certified AML FinTech Compliance Associate program. The program is built to increase the compliance toolkit of FinTech personnel working in financial crime prevention at the entry-level. Thus, increasing focus of FinTech on implementing AML solutions is propelling the Europe anti-money laundering solution market growth.

Key Market Segments

In terms of component, the software segment accounted for the largest share of the Europe anti-money laundering solution market in 2019. In terms of deployment type, the on-premises segment held a larger market share of the Europe anti-money laundering solution market in 2019. Similarly, in terms of product, the transaction monitoring segment held a larger market share of the Europe anti-money laundering solution market in 2019. Further, the BFSI segment held a larger share of the Europe anti-money laundering solution market based on industry in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Europe anti-money laundering solution market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accenture; ACI WORLDWIDE, INC.; BAE Systems plc; LexisNexis Risk Solutions Group; Nasdaq Inc.; NICE Ltd.; Open Text Corporation; Oracle Corporation; SAS Institute Inc.

Reasons to buy report

  • To understand the Europe anti-money laundering solution market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe anti-money laundering solution market
  • Efficiently plan M&A and partnership deals in Europe anti-money laundering solution market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe anti-money laundering solution market
  • Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.

 

Europe Anti-Money Laundering Solution Market Segmentation

Europe Anti-Money Laundering Solution Market - By Component

  • Software
  • Services

Europe Anti-Money Laundering Solution Market - By Deployment Type

  • On-Premises
  • Cloud

Europe Anti-Money Laundering Solution Market - By Product

  • Transaction Monitoring
  • Compliance management
  • Currency transaction reporting
  • Customer identity management

Europe Anti-Money Laundering Solution Market - By Industry

  • Healthcare
  • BFSI
  • Retail
  • IT and Telecom
  • Government
  • Others

Europe Anti-Money Laundering Solution Market - By Country

  • France
  • Germany
  • UK
  • Italy
  • Russia
  • Rest of Europe                            

Europe Anti-Money Laundering Solution Market - Company Profiles

  • Accenture
  • ACI WORLDWIDE, INC.
  • BAE Systems plc
  • LexisNexis Risk Solutions Group
  • Nasdaq Inc.
  • NICE Ltd.
  • Open Text Corporation
  • Oracle Corporation
  • SAS Institute Inc.  

TABLE OF CONTENTS

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        Europe Anti-Money Laundering Solution Market – By Deployment Type

1.3.2        Europe Anti-Money Laundering Solution Market – By Component

1.3.3        Europe Anti-Money Laundering Solution Market – By Product

1.3.4        Europe Anti-Money Laundering Solution Market – By Industry

1.3.5        Europe Anti-Money Laundering Solution Market- By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Europe Anti-Money Laundering Solution Market Landscape

4.1         Market Overview

4.2         Europe PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Europe Anti-Money Laundering Solution Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Focus of FinTech on Implementing Automated Anti-Money Laundering Systems

5.1.2        Increasing Demand for Sophisticated Transaction Monitoring Solutions

5.1.3        Growing Focus on Limiting Risks Related to Digital Payment Methods

5.2         Market Restraints

5.2.1        Sophisticated Structure and Technology of Anti-Money Laundering Solutions

5.3         Market Opportunities

5.3.1        Mounting Adoption of Cryptocurrency

5.3.2        Escalation in the Adoption of Advanced Analytics

5.4         Future Trends

5.4.1        Sharing of Details Among Banks and Other Financial Institutions

5.5         Impact Analysis of Drivers & Restraints

6.           Anti-Money Laundering Solution Market – Europe Analysis

6.1         Europe Anti-Money Laundering Solution Market Overview

6.2         Europe Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

6.3         Market Positioning – Five Key Players

7.           Europe Anti-Money Laundering Solution Market Analysis – By Deployment type

7.1         Overview

7.2         Europe Anti-Money Laundering Solution Market, by Deployment Type, (2019 and 2027)

7.3         On-Premise

7.3.1        Overview

7.3.2        On-Premise Market Revenue and Forecast to 2027 (US$ Million)

7.4         Cloud

7.4.1        Overview

7.4.2        Cloud Market Revenue and Forecast to 2027 (US$ Million)

8.           Europe Anti-Money Laundering Solution Market Analysis – By Component

8.1         Overview

8.2         Europe Anti-Money Laundering Solution Market Breakdown, by Component, (2019 and 2027)

8.3         Software

8.3.1        Overview

8.3.2        Software Market Revenue and Forecast to 2027 (US$ Million)

8.4         Services

8.4.1        Overview

8.4.2        Services Market Revenue and Forecast to 2027 (US$ Million)

9.           Europe Anti-Money Laundering Solution Market Analysis – By Product

9.1         Overview

9.2         Europe Anti-Money Laundering Solution Market Breakdown, by Product, (2019 and 2027)

9.3         Transaction Monitoring

9.3.1        Overview

9.3.2        Transaction Monitoring Market Revenue and Forecast to 2027 (US$ Million)

9.4         Compliance Management

9.4.1        Overview

9.4.2        Compliance Management Market Revenue and Forecast to 2027 (US$ Million)

9.5         Currency Transaction Reporting

9.5.1        Overview

9.5.2        Currency Transaction Reporting Market Revenue and Forecast to 2027 (US$ Million)

9.6         Customer Identity Management

9.6.1        Overview

9.6.2        Customer Identity Management Market Revenue and Forecast to 2027 (US$ Million)

10.        Europe Anti-Money Laundering Solution Market Analysis –By Industry

10.1      Overview

10.2      Europe Anti-Money Laundering Solution Market Breakdown, by Industry Vertical, (2019 and 2027)

10.3      Healthcare

10.3.1     Overview

10.3.2     Healthcare Market Revenue and Forecast to 2027 (US$ Million)

10.4      BFSI

10.4.1     Overview

10.4.2     BFSI Market Revenue and Forecast to 2027 (US$ Million)

10.5      Retail

10.5.1     Overview

10.5.2     Retail Market Revenue and Forecast to 2027 (US$ Million)

10.6      IT and Telecom

10.6.1     Overview

10.6.2     IT and Telecom Market Revenue and Forecast to 2027 (US$ Million)

10.7      Government

10.7.1     Overview

10.7.2     Government Market Revenue and Forecast to 2027 (US$ Million)

10.8      Others

10.8.1     Overview

10.8.2     Others Revenue and Forecast to 2027 (US$ Million)

11.        Europe Anti-Money Laundering Solution Market –Country Analysis

11.1      Overview

11.1.1     Europe: Anti-Money Laundering Solution Market, By Country

11.1.1.1       Germany: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.1.1       Germany: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.1.2       Germany: Anti-Money Laundering Solution Market, by Component

11.1.1.1.3       Germany: Anti-Money Laundering Solution Market, by Product

11.1.1.1.4       Germany: Anti-Money Laundering Solution Market, by Industry

11.1.1.2       UK: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.2.1       UK: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.2.2       UK: Anti-Money Laundering Solution Market, by Component

11.1.1.2.3       UK: Anti-Money Laundering Solution Market, by Product

11.1.1.2.4       UK: Anti-Money Laundering Solution Market, by Industry

11.1.1.3       France: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.3.1       France: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.3.2       France: Anti-Money Laundering Solution Market, by Component

11.1.1.3.3       France: Anti-Money Laundering Solution Market, by Product

11.1.1.3.4       France: Anti-Money Laundering Solution Market, by Industry

11.1.1.4       Italy: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.4.1       Italy: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.4.2       Italy: Anti-Money Laundering Solution Market, by Component

11.1.1.4.3       Italy: Anti-Money Laundering Solution Market, by Product

11.1.1.4.4       Italy: Anti-Money Laundering Solution Market, by Industry

11.1.1.5       Russia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.5.1       Russia: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.5.2       Russia: Anti-Money Laundering Solution Market, by Component

11.1.1.5.3       Russia: Anti-Money Laundering Solution Market, by Product

11.1.1.5.4       Russia: Anti-Money Laundering Solution Market, by Industry

11.1.1.6       Rest of Europe: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.6.1       Rest of Europe: Anti-Money Laundering Solution Market, by Deployment Type

11.1.1.6.2       Rest of Europe: Anti-Money Laundering Solution Market, by Component

11.1.1.6.3       Rest of Europe: Anti-Money Laundering Solution Market, by Product

11.1.1.6.4       Rest of Europe: Anti-Money Laundering Solution Market, by Industry

12.        Impact of COVID-19 Pandemic on Europe Anti-Money Laundering Solution Market

12.1      Europe

13.        Industry Landscape

13.1      Overview

13.2      Market Initiative

13.3      Merger and Acquisition

13.4      New Development

14.        COMPANY PROFILES

14.1      Accenture

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.2      ACI WORLDWIDE, INC

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3      BAE Systems plc

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4      Open Text Corporation

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5      Oracle Corporation

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

14.6      LexisNexis Risk Solutions Group

14.6.1     Key Facts

14.6.2     Business Description

14.6.3     Products and Services

14.6.4     Financial Overview

14.6.5     SWOT Analysis

14.6.6     Key Developments

14.7      Nasdaq Inc.

14.7.1     Key Facts

14.7.2     Business Description

14.7.3     Products and Services

14.7.4     Financial Overview

14.7.5     SWOT Analysis

14.7.6     Key Developments

14.8      SAS Institute Inc.

14.8.1     Key Facts

14.8.2     Business Description

14.8.3     Products and Services

14.8.4     Financial Overview

14.8.5     SWOT Analysis

14.8.6     Key Developments

14.9      NICE Ltd.

14.9.1     Key Facts

14.9.2     Business Description

14.9.3     Products and Services

14.9.4     Financial Overview

14.9.5     SWOT Analysis

14.9.6     Key Developments

15.        Appendix

15.1      About The Insight Partners

15.2      Word Index

LIST OF TABLES

Table 1.             Europe Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Table 2.             Germany Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027  (US$ Million)

Table 3.             Germany Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027  (US$ Million)

Table 4.             Germany Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027 (US$ Million)

Table 5.             Germany Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027 (US$ Million)

Table 6.             UK Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027  (US$ Million)

Table 7.             UK Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027 (US$ Million)

Table 8.             UK Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027 (US$ Million)

Table 9.             UK Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027 (US$ Million)

Table 10.          France Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027  (US$ Million)

Table 11.          France Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027 (US$ Million)

Table 12.          France Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027 (US$ Million)

Table 13.          France Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027 (US$ Million)

Table 14.          Italy Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027  (US$ Million)

Table 15.          Italy Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027 (US$ Million)

Table 16.          Italy Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027 (US$ Million)

Table 17.          Italy Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027 (US$ Million)

Table 18.          Russia Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027  (US$ Million)

Table 19.          Russia Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027 (US$ Million)

Table 20.          Russia Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027 (US$ Million)

Table 21.          Russia Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027 (US$ Million)

Table 22.          Rest of Europe Anti-Money Laundering Solution Market, by Deployment Type – Revenue and Forecast To 2027 (US$ Million)

Table 23.          Rest of Europe Anti-Money Laundering Solution Market, by Component – Revenue and Forecast To 2027  (US$ Million)

Table 24.          Rest of Europe Anti-Money Laundering Solution Market, by Product – Revenue and Forecast To 2027  (US$ Million)

Table 25.          Rest of Europe Anti-Money Laundering Solution Market, by Industry – Revenue and Forecast To 2027  (US$ Million)

Table 26.          List of Abbreviation

LIST OF FIGURES

Figure 1.           Europe Anti-Money Laundering Solution Market Segmentation

Figure 2.           Europe Anti-Money Laundering Solution Market Segmentation – By Country

Figure 3.           Europe Anti-Money Laundering Solution Market Overview

Figure 4.           On-Premise Segment Held the Largest Market Share

Figure 5.           Software Segment Held the Largest Market Share

Figure 6.           Transaction Monitoring Segment Held the Largest Market Share

Figure 7.           BFSI Segment Held the Largest Market Share

Figure 8.           Rest of Europe Held the Largest Market Share

Figure 9.           Europe – PEST Analysis

Figure 10.        Europe Anti-Money Laundering Solution Market Ecosystem Analysis

Figure 11.        Europe Anti-Money Laundering Solution Market Expert Opinion

Figure 12.        Impact Analysis of Drivers and Restraints

Figure 13.        Europe Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14.        Europe Anti-Money Laundering Solution Market Breakdown, by Deployment Type (2019 and 2027)

Figure 15.        Europe On-Premise Market Revenue and Forecast to 2027(US$ Million)

Figure 16.        Europe Cloud Market Revenue and Forecast to 2027(US$ Million)

Figure 17.        Europe Anti-Money Laundering Solution Market, by Component (2019 and 2027)

Figure 18.        Europe Software Market Revenue and Forecast to 2027(US$ Million)

Figure 19.        Europe Services Market Revenue and Forecast to 2027(US$ Million)

Figure 20.        Europe Anti-Money Laundering Solution Market Breakdown, by Product (2019 and 2027)

Figure 21.        Europe Transaction Market Revenue and Forecast to 2027(US$ Million)

Figure 22.        Europe Compliance Management Market Revenue and Forecast to 2027(US$ Million)

Figure 23.        Europe Currency Transaction Reporting Market Revenue and Forecast to 2027(US$ Million)

Figure 24.        Europe Customer Identity Management Market Revenue and Forecast to 2027(US$ Million)

Figure 25.        Europe Anti-Money Laundering Solution Market Breakdown, by Industry Vertical (2019 and 2027)

Figure 26.        Europe Healthcare Market Revenue and Forecast to 2027(US$ Million)

Figure 27.        Europe BFSI Market Revenue and Forecast to 2027(US$ Million)

Figure 28.        Europe Retail Market Revenue and Forecast to 2027(US$ Million)

Figure 29.        Europe IT and Telecom Market Revenue and Forecast to 2027(US$ Million)

Figure 30.        Europe Government Market Revenue and Forecast to 2027(US$ Million)

Figure 31.        Europe Others Market Revenue and Forecast to 2027(US$ Million)

Figure 32.        Europe Anti-Money Laundering Solution Market Revenue Share, By Country (2019 and 2027)

Figure 33.        Germany: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 34.        UK: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 35.        France: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 36.        Italy: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 37.        Russia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 38.        Rest of Europe: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 39.        Impact of COVID-19 Pandemic in Europe Country Markets

Some of the leading companies are:

  1. Accenture
  2. ACI WORLDWIDE, INC.
  3. BAE Systems plc
  4. LexisNexis Risk Solutions Group
  5. Nasdaq Inc.
  6. NICE Ltd.
  7. Open Text Corporation
  8. Oracle Corporation
  9. SAS Institute Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe anti-money laundering solution market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe anti-money laundering solution market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the anti-money laundering solution market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution                      
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